SZCRF - SCOR SE (SZCRF) Q4 2023 Earnings Call Transcript
2024-03-06 11:46:03 ET
SCOR SE (SZCRF)
Q4 2023 Earnings Conference Call
March 6, 2024, 8:00 am ET
Company Participants
Thomas Fossard - Head, IR
Thierry Leger - CEO
François de Varenne - CFO
Fabian Uffer - Group Chief Risk Officer
Conference Call Participants
Will Hardcastle - UBS
James Shuck - Citi
Kamran Hossain - JP Morgan
Derald Goh - RBC
Ivan Bokhmat - Barclays
Ashik Musaddi - Morgan Stanley
Vinit Malhotra - Mediobanca
Presentation
Operator
Good afternoon, ladies and gentlemen, and welcome to the SCOR Q4 2023 Results Conference Call. Today's call is being recorded. There will be an opportunity to ask questions after the presentation. In order to give all participants a chance to ask questions, we kindly ask you limit the number of your questions to two.
At this time, I would like to hand the call over to Mr. Thomas Fossard. Please go ahead, sir.
Thomas Fossard
Good afternoon, and welcome to SCOR Q4 2023 results conference call. My name is Thomas Fossard, Head of Investor Relations, and I'm joined on the call today by Thierry Leger, CEO of SCOR, as well as the entire Executive Committee. And I please ask you to consider the disclaimer on Page 2 of the presentation.
And now, I would like to hand over to Thierry Leger. Thierry, over to you.
Thierry Leger
Thanks, Thomas, and good afternoon, everyone.
I would like to start with four key messages. 2023 was a strong year for SCOR with €780 million in net income, supported by all business activities. I will come back on this in more detail later. We delivered on the decision to reduce our exposures to climate sensitive risks. We raised retentions, clarified wordings, and increased prices. I'm very satisfied with our Nat Cat claims coming in below budget and with our current positioning in Nat Cat.
Our reserves are in a good position. At Q4 all lines have been checked at the very granular level and are at best estimate. This was confirmed by an in-depth independent third-party review conducted by Willis Towers Watson....
SCOR SE (SZCRF) Q4 2023 Earnings Call Transcript